As far as blockchain is concerned, many consider it related to cryptocurrency, finance, and digital ledgers. It is true. However, blockchain is the technology supporting Bitcoin – a currency that is itself very active in rapid development.
Something that is not realized by a considerable population is that blockchain is capable of disrupting and solving problems in other industries and sectors as well. Among those, digital marketing and advertising will be the most effective area to show the major transformation.
It has been figured out that claiming blockchain as a tool to bring value in the industry or business is a valid statement. As the internet has brought a new and digital perspective concerning information and knowledge, blockchain can do that for all the industries (when appropriately used).
The important ways through which a revolution in advertising and digital marketing is possibly easy to bring are as follows:
1. Establishment Of Trust
A major issue while figuring out the stats of online advertising is the unknown accuracy ratio. With this, I mean, it is impossible to know the actual customers (the people, not the robots) while counting “the clickers,” or we simply count most of the artificially hired clicker/ bots, which increase the ad stats for the benefit of distributors in charging high rates. It is necessary to know whether we are counting true customers. Because once the numbers of clickers increase, it apparently shows more clicks but is only increasing the distributors’ earning. The truth is, it is hard to analyze the actual click count by the people.
As the blockchain is entirely transparent and encrypted, it can change the way things work in advertising. Companies can effortlessly identify their audience and determine if the people who viewed the ad are among the target audience. It can save considerable millions which the companies spend on ads each year. A company should receive the advantage of the ad they have paid for.
2. Easier For Small Companies
For any small business, initially, it is actually hard to stand out from the crowd of its competitors. But that does not mean there is no way to sort that out. As the benefits are mentioned above, small companies can make the most out of blockchain technology.
First, trust issues can be easily removed. While moving with the already established players in your industry, you must understand your audience’s needs. Make sure your products are of good quality so that no trust issues follow you in the future. A Blockchain is such a platform that enhances the charm of any business, either big or small. It provides you the opportunity to prove your business as a legitimate one. You will have to provide minor details, including your supply chain and from where it comes, which is quite enough to trust the brand or business. Because it increases the urge to buy your products at reasonable prices.
3. No More Middlemen Required
The analysis has shown that if the publishers remove middlemen, they can increase their CPM, i.e., $1 to $5. However, blockchain tends to do better. The estimations are that the market can be shaken up to a level where companies will be paying their particular/targeted audience directly for viewing the ads of the product they require.
Companies can collect the data and use it appropriately for categorizing the needs of their audience. Moreover, the companies will use micro currencies to turn and retain the attention of the actual audience, not just the clicks. It will soon be proved that companies have got their expected attention through the exchange of currency.
4. Targets Right Audience At The Right Time
From a very long tenure, advertising has been taking place. However, data collection was a big task. A single customer’s information would be collected from different sources, which was even doubtful as a lot of information is maintained together. Blockchain can eventually make spending smarter while connecting the companies with potential buyers /customers.
5. Improved Transparency
The whole system becomes transparent as the blockchain (the digital ledger) maintains all the information on each product through the supply chain. Having said that, I mean, the buyer can simply check the information related to the product, i.e., from where it has come, who has given or handled it, if the product is faux or legit and etcetera. It actually improves the customer experience.
The added value of transparency has also made cryptocurrency very useful and famous among the masses. It has brought different ways of earning, as the process has become incredibly transparent. To know how you can take advantage of blockchain and its transparency for earning money, you simply need to get the details from this website.
6. Improved transparency leads to improved security
Generally, people have started to claim that their online shopping has turned into a nightmare because most of the products ordered are of low quality. The things shown in the picture are never the same as the things sent to the address. Moreover, the likes, comments, followers, and the products are all fake. Scams are also increasing day by day.
Keeping this scenario in vision, blockchain has the ability to save the image of the digital market. After the trust is built and transparency has improved, there are the least chances that consumers will not trust. Rather, after seeing the company’s security concerns, customers will be willing to buy more and more products.
The bottom line
Technology has uncountable benefits. It is always wise to move with the flow of the world. This is why if companies use blockchain for digital marketing, their businesses can boost faster than before. When the information is valid, transparency is shown, security is taken seriously, the fake factor has been removed, and no middleman deals anything anymore- there are no chances that businesses will have a hard time growing their online businesses, especially new and small setups. Blockchain is not only improving the cryptocurrency market but also many other markets for making the digital world more reliable and safe.